Best Hard Money Lenders Of 2024 (2024)

Launched in 2017, HouseMax Funding is a fast-growing, Austin-based real estate lending company, offering hard money financing in urban and suburban communities nationwide. It provides borrowers rapid rate quotes and the opportunity to prequalify “in a matter of minutes.”

Available in All 50 States
The application process is open to residents in all 50 states and Washington, D.C.

How To Apply
To prequalify, submit a loan application, one form of government-issued identification, all financial statements from the past 60 days, your purchase contract for the property and renovation plans.

Once you prequalify, you’ll submit payment for an appraisal and a repair budget. After receiving the appraisal and signing the loan agreement, you’ll schedule closing with the title company. Once you close on the loan, HouseMax provides the funds.

Customer service is available by phone and email Monday through Friday, 8 a.m. to 6 p.m. CT.

Speed
The company says it aims to fund your loan in 10 days or less. A loan to invest can close in seven days.

Credit Requirements
An average to above-average credit score is required to qualify.

Loan Types Offered
HouseMax offers fix and flip loans, rental loans, home renovation loans, multi-family housing loans, ground-up construction loans and bridge loans. Loan amounts are up to 90% LTC for purchase contracts and HouseMax provides up to $9 million in financing, depending on the loan product.

If closing quickly is a top priority, Easy Street Capital claims it can review your application and provide you with a loan term sheet within 24 hours. No appraisal is required, and if all parties are prepared to close, Easy Street Capital can fund your loan in as little as 48 hours.

In addition to offering blanket loans, the Austin, Texas-based company claims to be a lending leader for short-term rentals, such as properties used for Airbnbs, VRBOs or vacation homes.

Available in 42 States and Washington D.C.
Not available in Arizona, Minnesota, Nevada, New York, North Dakota, South Dakota and Utah.

Customer service for the Austin office is available by phone Monday through Friday, 9 a.m. to 5 p.m. CT. The West Coast office can be reached Monday through Friday, 9 a.m. to 5 p.m. PT.

How To Apply
Fill out an online application to begin the process. The form will ask you to explain whether you are seeking a purchase or refinance loan, where you are in your process, the location of the property and the loan program of interest.

Additionally, you’ll need to disclose the source of your down payment, your plan for paying off the loan, details regarding your execution strategy, your borrowing experience and your contact information.

Speed
Claims a closing time of 48 hours or less.

Credit Requirements
Easy Street Capital is an asset-based lender, so it bases its loans on the quality of the asset rather than on the borrower’s credit history and credit score. Even so, the website states you’ll need a minimum 600 credit score to qualify for an EasyFix loan (fix and flip) and a minimum score of 620 for an EasyRent loan (rental).

Loan Types Offered
Easy Street Capital offers fix and flip loans, rental loans, home renovation loans, multi-family and mixed-use property loans, ground-up construction loans, portfolio blanket loans and bridge loans.

Express Capital Financing (ECF) is a national lender specializing in hard money and bridge loans, fix and flip loans and small-balance commercial loans. ECF also promises to offer better rate, terms and fees compared to its competitors.

Moreover, ECF offers a streamlined borrowing process with a quick timeline and high customer satisfaction. Depending on the loan, interest rates begin as low as 7% as of writing.

Available in 47 States and Washington D.C.
Not available in Nevada, South Dakota and North Dakota.

Customer service is available by phone and email from Monday to Friday 9 a.m. to 7 p.m. ET.

How To Apply
Apply online by selecting the applicable loan type. From there, fill out an information request form online or download the form. Once you submit the form, a member of the team will be in touch to discuss the feasibility of the loan.

Only U.S. citizens, foreign nationals and permanent resident aliens qualify for loans from ECF. If you qualify, ECF states it provides preappoval in 24 hours.

Speed
ECF offers a fast application timeline, with a typical closing time falling within seven to 10 days, and in some cases as little as five days.

Credit Requirements
ECF doesn’t require a minimum credit score. However, borrowers must have a minimum credit score of 650 to avoid interest reserve payments and cannot have experienced bankruptcy, foreclosure or short sales in the last four years.

Loan Types Offered
ECF offers fix and flip loans, rental loans, large balance loans, multi-family mixed-use loans and ground-up construction loans. Loan amounts are up to 90% LTC for purchase contracts. ECF provides up to $5 million in financing.

Established in 2010, RCN Capital offers hard money purchase and refinance loans for non-owner occupied residential and commercial properties. It can also provide financing of renovation projects and bridge loans.

RCN Capital lends to real estate professionals, commercial contractors, developers and small business owners throughout many areas of the country with plans to expand its reach across all 50 states.

For those who need extra support, RCN Capital Partners provides resources on its website that can help new investors and veterans alike. For instance, the company partners with Tax Hive, a business tax consulting network that will help set up your LLC in a few steps and take care of required paperwork.

Available in 45 States and Washington D.C.
Not available in Alaska, Nevada, North Dakota, South Dakota and Vermont.

Customer service is available by phone Monday through Friday, 9 a.m. to 6 p.m. ET.

How To Apply
Begin by filling out an online form that asks for the location of the property and your contact information. If you qualify, you’ll need to provide RCN with documentation for underwriting, including an application, copies of financial statements, a property appraisal and renovation estimates.

Speed
Closing timeline can take as little as 10 business days.

Credit Requirements
Credit requirements across RCN Capital’s product lineup vary, but you’ll generally need a score in the mid-600s to qualify.

Bridge loans and After-Repair Value loans require a score of 620, whereas construction loans have a slightly higher requirement of 650. Rental loans at RCN Capital require either a 660 credit score for a single-family property or a 680 credit score for a multi-family property.

Loan Types Offered
RCN Capital offers fix and flip loans, multi-family loans, long-term rental loans, ground-up construction loans and short-term bridge loans. Loan amounts are up to 90% LTC for purchase contracts. RCN Capital provides up to $10 million in financing depending on the loan product.

Houston-based Jet Lending has originated thousands of loans since launching in 2004, offering purchasing, refinancing, cash out and portfolio options plus a variety of other loan products depending on your property investment goals. Customers also speak highly of the lender.

Available in all 50 States and Washington D.C.
Jet Lending serves all 50 states and Washington D.C.

Customer service is available by phone Monday through Friday, 8 a.m. to 5 p.m. CT.

How To Apply
Click the “Apply” button on Jet Lending’s website to start the process. The following page gives you the option to select between a short-term investment property loan, long-term investment property loan or a line of credit. From there, Jet Lending provides a submission form requesting details related to your loan request type.

Speed
Closing typically takes seven to 10 business days once you’re cleared to close by your title company and receive your appraisal report.

Credit Requirements
Credit score is not applicable on short-term asset-based loans. However, a good credit score is required for long-term asset-based loans.

Loan Types Offered
Jet Lending offers buy, fix and sell/rent loans, short- and long-term rental loans, land loans and new construction loans.

With 17 years of experience and over $1 billion in loans funded, Park Place Finance offers support and guidance to new investors while maintaining a simple closing process.

Park Place Finance also serves experienced investors, many of whom become repeat customers. Client reviews describe reps as easy to work with and appreciate the fast closing times and excellent customer service.

Available in 47 states and Washington D.C.
Not available in Alaska, North Dakota and South Dakota

How To Apply
Begin the process by filling out an online form requesting information about what kind of loan you need, the kind of property you’re financing, where you are in your process of identifying a property, your credit score and your contact information. You can also get started by speaking to a representative over the phone.

Speed
Park Place Finance indicates it’s possible to close in as little as three days, but the lender suggests, five to seven days is more typical.

Credit Requirements
A minimum credit score is required for many loans, but Park Place Finance will make some exceptions.

Loan Types Offered
Park Place Finance offers fix and flip loans, construction loans, Debt Service Coverage Ratio (DSCR) loans, bridge loans and conventional purchase loans.

Kiavi has no prepayment penalties and doesn’t charge points—a fee that can run between 2% and 10% of your loan—when you exit the loan or when you’re ready to repay the loan. Borrowers can purchase or refinance properties and have access to a variety of loan products.

For those who want a streamlined online experience, Kiavi’s modern tech platform automates many aspects of the loan process, allowing for optimized decisioning throughout the experience.

However, it’s worth noting that Kiavi doesn’t lend to first-time homeowners looking to finance their first home.

Available in 32 States and Washington D.C.
Kiavi services loans in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Maryland, Michigan, Minnesota, Missouri, North Carolina, New Jersey, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virgina, Washington, Wisconsin, West Virginia and Washington D.C.

How To Apply
Kiavi’s application process is 100% online. To begin, you’ll submit information regarding the type of property you’re considering and previous investment properties that you’ve purchased or refinanced. Before submitting a loan application, speak with a Kiavi representative to discuss your project.

Speed
Claims to close in as little as 10 business days.

Credit Requirements
Kiavi performs soft credit checks to view your credit score, which help determine prequalification for your desired loan. The minimum credit score requirement for a DSCR rental loan is 660.

Loan Types Offered
Kiavi offers fix and flip loans, DSCR rental loans, rental portfolio loans and bridge loans.